it is 5:00 a.m. here at cnbc and here are your top five at 5:00 suicide gunman outside of kabul airport turning dire situation into a deadly one. president biden calling out those responsible for the attacks while doubling down his calls to evacuate the afghan capital. on wall street investors on edge following those attacks and preparing for jay powell's comments dennis lockhart will be joining us in a couple minutes your big money mover this morning is peloton

find out why coming up and apple bending to antitrust measures when it comes to its app store it is friday august 27th, 2021 is you're watching "worldwide exchange" here on cnbc good morning i'm seema mody in for brian sullivan here's a look at how global markets are setting up the day stocks future higher across the board. s&p 500 did retreat snapping a fo five-day winning streak. the dow jones industrial, check it out, up 98 points in premarket trade. treasuries ahead of the speech from jerome powell the ten-year yield at 1.3% the big action in the commodity

market oil companies have been airlifting workers from gulf of mexico production platforms. look at wti crude on pace for the best week since february up about 10% let's go worldwide, though, and look how trading action is under way in europe. joumanna is live >> thank you, sema end up a tenth of a percentage point higher much of these industries trending around the flat line. we have the ftse higher and the minors putting in a good performance and right at the top of the index done about eight basis points and then germany you can see also a lot of focus this week and microdata coming in suggesting the economic slow down has just begun to bite the economy. but then also we are one month

away from those important german federal elections. another poll today has put the center left party ahead of the ruling party so, that is something to watch from political standpoints in terms of sectors, though, this is what we have in terms of gains, gainers and losers at the bottom we've got travel and leisure down and the banks also trading slightly in negative territory down about three quarter of a percentage point today i mention the minors are doing well and basic and then we have some of the defenses like real estate and food and bev also trading in the green like all markets everywhere we're watching out for the jackson hole and what fed chair has to say later on today. >> the global implications of the fed. thank you. let's get to some of the morning's top stories. worth bertha coombs here with the latest >>p aal says it will change app

store policies allowing to direct customers to payment systems outside the apple eco systems. the move as part of a proposed settlement linked to a 2019 class action lawsuit marks the first major concession by the iphone maker amid multiple antitrust. the global economy could lose out on $2.3 trillion on gdp because of covid vaccine ineconomy. a report says developing nations could stand to lose the most around two-thirds of the losses as of august 23rd around 5 billion doses have been administered globally, but only about 15 million of those were in low-income countries. amazon web services says it will offer some customers usb

keys to help them more securely log into their accounts in october. it follows andy's participation and demonstrates the increasing amount of corporate trust in physical hardware designed to prevent ransomware attacks major companies like netflix and airbnb rely on amazon web services for cloud computing and data storage so, we're going back to usb keys i guess you have to make sure you don't lose that key, seema >> exactly sounds interesting now a developing story this morning. ongoing deterioration in afghanistan 13 service members were killed by suicide bombers and gunman outside the international airport in kabul yesterday. u.s. say 11 were marines and one was a navy medic

18 other service members and 140 additional afghans were wounded. an emotional speech yesterday evening, president biden said the u.s. will complete its mission of evacuating americans and their allies from the country adding the u.s. will not be deterred by terrorists. >> those who carried out this attack as well as anyone wishes america harm know this we will not forgive. we will not forget we will hunt you down and make you pay. we will not be deterred by terrorists we will not let them stop our mission. we will continue the evacuation. these isis terrorists will not win. we will rescue the americans in there. we will get our afghan allies out. and our mission will go on america will not be intimidated.

>> in kabul the taliban are condemning the attack and saying the americans that if the military presence wasn't there it wouldn't be a magnet for extremism and they think once the americans leave they will be able to impose order let's turn to the markets and the reaction futures are looking positive despite the events overseas. investors focusing on a big day ahead with a taper being the big word of the day at the virtual jackson hole symposium multiple fed presidents say they do think it is time for tapering and the question among them is when that might be answered when jerome powell speaks today at 10:00 a.m. eastern john chief investment strategist at oppenheim er we er wealth management john, i'll start with you.

do you think he'll be noncommitment or be direct and say exactly when he thinks the fed will move. >> seema, thanks for having me on this morning. we have to think that jerome powell is to give some tidbits of a hint of what is forthcoming in terms of tapering we don't think it will be very specific we think they're going to wait for the fomc meeting for that but we do believe the market will be watching today and listening and jerome powell knows that the fed is very sensitive to the status of the economy, both weaknesses and strength. we think they've managed this fairly well so far and we think they will continue to. so all eyes and ears for jackson hole >> ryan, how do you expect powell to approach this topic of the taper? >> i think we need to get some indication of the tapering and also we have this huge human infrastructure package that may get passed on capitol hill

i expect the fed will hold off on any real indications until we know how much stimulus will be pumped in. when we know more of the physical situation, we'll know more on the monetary at the end of the day it's coming whether it's next month or next year, at some point we'll see tapering and the fed start to raise interest rates and the bottom line the economy is starting to rock once the delta variant starts to subside a little bit and we see the reopening with schools back in september and see the unemployment benefits come off and a lot of people back in the workforce. accounting is going to run hot >> if the economy is running hot, john. consumer prices on the rise with the exception of last month. >> right now we continue to like information technology, consumer discretionary financials within those spaces we're looking for growth and value

so, it's essentially growth at a reasonable price relative to where tech is on valuations. but you want to be cyclicals over defensive so you don't want a great exposure to the defensives in here and cyclicy exposed and you want to keep tech in here because a mix of growth and value and investors showing what they want and broader diversification as we move towards an economic recovery stateside and likely sustainable economic expansion next year. >> ryan, john makes an interesting point. if you look at the sectors growing their earnings per share this quarter, it's the industrials which are up 33% year to date and technology. do you stick with these sectors or because of the geopolitical situation overseas is it time to get more defensive >> i think i actually get a bit more offensive here on the international side, as well. i think i agree with john,

cyclicals is a good place to be. the french stock market is actually outperforming the nasdaq right now i think if you allocate capital here not only do you want to own u.s. companies john, you're right, continue to own tech in here and also cyclical stocks and i would look overseas, as well valuations are a lot cheaper france is not the hot bed of technology, but if you look at old school cyclical companies that's a lot of what europe is you start looking at valuation and they're cheaper than the u.s. europe is on fire right now and and i think right now and moving forward, it's great place to own and allocate in your portfolio >> especially at a time when we're seeing the crisis unfolding in afghanistan >> we're overweight u.s. markets. we have meaningful exposure both to international developed markets, as well as to emerging markets with the preference for

the developed international markets first off. we think the relative strength of the dollar has made it tough when translating researches back into the u.s. currency for u.s. investors. so, while we like the international markets, we are still, we want meaningful exposure because we think as the u.s. proves that its economic recovery will lead to a sustainable economic and u.s. consumers will buy a lot of imported goods that's big stuff for europe with all the luxury items, as well as consumer staples, materials, energy, et cetera, which should be good for that, as well. we remain overweight u.s >> john, just addressing the situation in afghanistan is this a bigger risk for emerging markets and the neighboring countries around it? >> at this point, it's really a situation to monitor we have escalation in terms of geopolitical risk and the risk at home is how congress decides

to spend its money we're hoping it doesn't overstimulate the economy and lead to stickier inflation >> we've already seen those infrastructure talks cool down this week as afghanistan becomes a bigger focal point gentlemen, thank you we'll leave the conversation there. >> thanks, seema. when we come back, much more on the developing situation in afghanistan. atlantic council fred camp will way in air cargo nightmare. skip the ship in favor of cargo jets without much luck we're live in beijing next. later details behind what we're calling the peloton plunge a busy hour still aheawhd en "worldwide exchange" returnseal! cam, can you...? hey... but what about for existing customers?

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time now for your big money movers for stocks stories moving at this hour first up is peloton. the company reporting better than expected fourth quarter earnings, loss revenue did top forecast and first quarter sales will come in below estimates. peloton is cutting the price of its core exercise bike by $400 and profits will be impacted by commodity, shipping and operating costs. shares are moving here down about 8% stock, too, is gap second quarter results beating estimates and the retailer is raising guidance for the year.

customers have been embracing summer with optimism buying new clothes as vacations and reunions become a reality. the company also seeing a windfall with its tie up from kanye west with 75%. the preorders for the easy gap jacket coming from new customers and the stock is up 6% here. the third stock is dell reported better than expected second quarter earnings. revenue up 15% that was driven by strong results from its commercial pc business a shift from previous quarters take a look at vmware shares the stock is falling after the business softwaremaker posted mixed numbers and subscription and software as a service revenue and the company's cloud business that missed analyst's estimates and shares are down about 4.8% coming up, a late-night ruling from the supreme court ending the biden administration's eviction moratorium details on that next when "worldwide exchange" returns

today's big number $133 billion that's how much money has been raised so far this year through 556 follow-on offerings. that's the most since 1996

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suppliers in china are looking at alternative means to get their goods out of the mainland and into customers' hands. but the struggle is real joining us live from beijing and the city's airport for more on the story. eunice >> thanks so much, seema cargo workers have told us that the quarantine protocols are extremely severe the current policy is 14-7-7 14 days of working in a bubble and then seven days of quarantine at a hotel and then another seven days at home in shanghai where there were six confirmed cases the protocols are even ighter. seven days of working in a bubble and then two weeks of quarantine so, supply chain expert everstream told us that they believe these tight protocols are significantly constraining the capacity here. in fact, they expect to see the rates rising to $20 a kilogram

that's about five times higher than a normal operations over the next few weeks this is what the ceo told us >> the intent of the zero tolerance policy is good it contains an outbreak as quickly as possible. what it does is it immediately shuts down major operations in airports and carriers and that's what creates the challenge so, no one can accurately predict when an outbreak may hit. >> logistics experts say they think erica pacity is down about 40% since prepandemic times. fast fashion, electronics, as well as e-commerce and they say the average delay companies should expect is about two weeks. this is what the company said. >> last quarter this year is

going to be a mad rush for their freight mainly because we need not to expect this back log to build up from now on we thought it is going to be october 9, pbut this situation a huge backlog already >> and seko says rerouted away from shanghai to other airports around the country and, in fact, they expect to see a paradigm shift, they said, of all of these airports as a result of these tighter protocols. seema. >> supply chain constraints are real companies from john deere, ulta, the makeup retailer and williams-sonoma all mentioning the supply chain constraints that's a risk especially given they manufacturer a lot of their products in china. >> yeah, absolutely. and it's just for air cargo just

imagine a lot of these manufacturers here in china already were dealing with some of the poor issues trying to get vessels, which are in short supply their goods all stacking up, especially with the back to school, as well as the christmas season coming. so, a lot of these companies were already concerned and now they have to worry about being able to get their goods on to air fraights, as well >> eunice, thank you for bringing us that story. let's now get a check on this morning's other top headlines. france surea frances rivera with the latest >> the covid surge that is not letting up 38 million covid infections. currently more than 100,000 people are in the hospital being treated for covid. 172 million americans are fully

vaccinated that's just about 52% of the population a late-night supreme court ruling will end the cdc eviction moratorium putting renters at risk of losing their homes the challenge was taken to the supreme court by a group of landlords who cited that many across the country have lost as much as $15 billion a month. the eight-page majority said the cdc extended its authority in a statement the biden administration expressed disappointment the decision and encouraging all entities to take action to prevent evictions. a dangerous new challenge is flooding social media. it is called the milk crate challenge. involving trying to climb up and down a stack of milk crates. now doctors are warning to sit out this challenge and tiktok began banning videos of the

challenge. when it comes to that. seema, maybe they should stick to the recipes, the life hacks, hair and makeup tutorials. and the dances that we see everybody doing. >> i like the dances all about the tiktok dances. thank you. coming up, the latest on the developing situation in afghanistan. we'll talk about what happens next with atlantic council president and ceo fred kemp. prices are climbing as a storm approaches the gulf of mexico. we'll get the forecast for that tropical forecast ida. stay tuned, you're watching "worldwide exchange.

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a developing story president biden vowing to complete the afghanistan evacuation and hunt down isis leaders after yesterday's kabul attack >> these isis terrorists will not win. we will rescue the americans we will get our afghan allies and our mission will go on the head of the atlantic council fred kempe will offer his perspective straight ahead. fed watch. futures are pointing to a higher open governor jay powell and also from autos to computers and retailers to airlines, a number are dealing with issues.

what the problem may mean for well-known stocks you may own. it's friday august 27th. you're watching "worldwide exchange" here on cnbc welcome back i'm seema mody in for brian sullivan stocks breaking a five-day winning streak yesterday and right now in for a rebound with the dow up 108 points and s&p 500 higher by 14 points and nasdaq higher by 15 points in premarket trade. energy the best sector this week up nearly 5% and look at brent crude trading at $72 a barrel. let's get right to the developing story this morning and an ongoing situation in afghanistan where 13 u.s. service members and at least 60 afghan nationals were killed by isis suicide bombers outside of the international airport in kabul yesterday.

nbc jay gray joins us now with the very latest. good morning >> good morning. before yesterday's attack 565 days since the u.s. soldier had died in afghanistan. now in what's supposed to be the final days of evacuations, the mission has changed dramatically the first blast was just outside the main gate at the kabul airport. the second the attack one of the deadliest. more than 60 civilians killed and at least 13 american soldiers dead and more than a dozen injured. in the wake of the deadly rampage, the commander in chief showing a full range of emotion. >> the spaine of america the best the country has to offer. the pain of loss followed minutes later by the promise of justice. >> we will not forgive we will not forget

we will hunt you down and make you pay. >> reporter: isis has claimed responsibility for what it calls the martyrdom operation. >> we expect the attacks to continue and we're doing everything we can to be prepared for those attacks. >> reporter: while continuing airlifts the lighthouse saying around 7,500 people were evacuated in a 12-hour period after the attack. still, though, more than 1,000 american citizens remain in the region more than 100,000 afghans who supported u.s. troops. >> the challenge is complete the extraction of u.s. forces and then deal with the consequences in a sensible way. >> reporter: and getting them out is going to be a lot tougher now. >> the president says he will stick to his end of the month deadline and that means there's just four days now to get civilians about 6,000 u.s. troops and all their equipment,

seema, out of afghanistan. that's a difficult task. >> jay, how is that evacuation process expected to change following the attack at the kabul airport. >> it can't change that much because they have to go out of that airport they can switch things up and where they bring people in otherwise they have to continue to be diligent as far as these attacks are concerned because the pentagon, as we just heard, expects to hear more >> biden expects to stick with that deadline. jay, thank you appreciate it. and for more analysis on what the fallout could mean for that attack and how it could impact the pace of the evacuations, it certainly is a story we will be watching very closely and fred kempe joining us minutes from now. the dow currently up around 99 points in premarket trade we are set for a snap back the u.s. markets in focus ahead of jay powell. coming up on "worldwide exchange" another airline is cutting back on flights. we'll tell you why next. plus, as we head to break,

some of your other top stories apple ceo tim cook receiving more than 5 million shares of apple this past week to a tune of $715 million. it is the final part of a compensation package that cook received when he took the ceo job ten years ago. tesla filed an application to sell electricity in the state. the application follows the start of a major battery build it aims to connect mega system to the lone star state energy grid may have a new way to do so with the exchange traded fund. stocks trending on social media. the etf needs regulatory approval by the sec. we're back after this.

welcome wack to "worldwide exchange." let's bring you up to date with some of the top stories with bertha coombs. >> good morning to you again southwest airlines says it's cutting some flights this fall as it continues to grapple with operation problems that led to summertime delays and cancellations. in a statement the airline says it will cut an average of 27 flights per day from september 7th through october 6th. and 162 flights daily from

october 7th through november 5th. additional cuts are planned for the rest of the year the cutbacks are designed to help allow better operations and allow hiring to catch up following a very difficult summer for the airlines. speaking of catching up one of the largest chip suppliers industry machinery for automobiles will likely remain in short supply through at least the next year. japan's company whose customers include toyota, ford and honda has been hampered by raw material since the pandemic began. the comment comes as ford plans to cut f-150 pickup production due to that global chip shortage. microsoft is warning thousands of its computing customers that hackers could have the ability to rechange or even delete entire databases according to whiz the vulnerability which allowed whiz

to control access held by some of microsoft's largest clients lies in microsoft azure cosmos data base. >> i'm surprised we don't have more cybersecurity companies going public this year we'll have to save that for another time thank you. bertha coombs. time now for your big money movers four stocks moving at this hour. hp the pcmaker reporting better than expected third quarter earnings and keying in on a decline on printers, supplies, workstations and notebooks from the previous quarter that's largely due to parts shortages and the company is selling everything it can to produce shares down 3% stock, too, is work day. the business software and the company is raising its guidance for this year. the workday citing demand from larger enterprise customers.

shares are up from around 6% take a look at marvell technology the second quarter numbers beat forecast the company also issuing a very bullish outlook for its data center business which now accounts for 40% of revenue. finally, ollie's bargen outlet the stock is tumbling same-store sales falling 20% and citing supply chain issues that's a common theme this earning season stock down 14% we're also watching chinese internet stocks been a highly volatile week and issuing draft guidelines on algorithms to make recommendations to users it is part of china's new efforts to protect users' privacy and data the guidelines say service providers should not set up algorithm models that entice users to spend money in a way that may disrupt public order.

algorithm should not be used to create fake user accounts and that users should be given the option to easily turn off recommendation services. what does this mean for the stocks alibaba and didi use alga ritms to predict preferences alibaba shares down 3% and didi global up 0.5% alibaba had a positive week. on deck the fed is the big story of the day chairman jay powell set to address jackson hole symposium and we'll meet with dennis lockhart next. if you haven't already, follow our podcast. check us out on apple, spotify or other podcast apps. we will be right back.

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the federal reserve jackson

hole summit with chairman jay powell in the spotlight. powell set to speak this morning offering the latest policy insight into the essential bank strategy to begin winding down its monetary policy. for more let's bring in dennis lockhart pleasure to have you on. what are you expecting from powell today >> well, i do not expect that he's going to elaborate on the taper to any significant extent. i think he'll use his speech possibly to talk a bit more about the new strategic framework, the framework that was put in place last year he may talk in some way about the theme of the conference, the theme of the conference is unequal recovery and unequal effect of the covid-19 events, as well as the uneven economy that we have been experiencing with or without covid. so, those are a couple things that i think he might address

but i don't think we're going to get a lot of signal about the details of the tapering plan >> it was interesting in the policy meeting back in july and the statement from the fed, they said no decisions regarding future adjustments to asset purchases were made and many seasoned fed watchers like yourself saw that as a sign they're not going to address the taper. is that your read, as well >> that's my read, as well i went over the minutes fairly carefully and i've been in the meetings myself and i have some feel for the progress they're making on a particular question. and my reading of the minutes was that they were still at a fairly early stage of forming a consensus and it's going to take a little bit longer, probably the september meeting. we may see something coming out of the september meeting, but they may go to october, as well. >> so, october is what you're expecting. speaking of consensus, a lack of c consensus from the fed president that cnbc spoke with on the

trajectory of the economy and when to taper. i imagine that leads or makes it harder for powell to demonstrate conviction when he speaks today. >> chairman powell is the only person who speaks for the committee. and therefore i think when he lays something out, he will be explaining what he thinks is the consensus of the committee if there is no consensus of the committee, he may not be very forthright in that respect a part of his job because it is a committee process is to form that consensus to pull that consensus together. so the noise that we're hearing from all of the presidents who don't agree with each other is par for the course i was part of that myself. but it doesn't necessarily mean that jay powell's going to be able to at this stage make a real statement of where the committee stands >> we know the fed has a duel

mandate and squarely focused on consumer prices, dennis. do you think geopolitics could be addressed today by powell >> i doubt it. these kind of speeches take weeks to prepare because there's a lot of attention on the jackson hole speech. and the events, for example, the afghanistan events that you covered earlier in the program in the last few days would not be something he would address. he will stick to economic policy, monetary policy and, as i said earlier, perhaps the theme of this year's symposium >> markets have been continuing to build on their gains. we're set to close the week higher for the dow, s&p and nasdaq i'm curious if powell does suggest october on a potential taper how the market could react. >> how markets react depends a

bit on expectations and what is already priced in to the market. you know, i don't think the market has priced in a 100% assumption of a september tapering announcement. so, the market reaction could be very mixed but i'm not a good person to predict the market >> dow currently up 109 points actually in premarket ahead of powell's speech. your thoughts on how important this speech is, though, for powell himself he is up for renomination in february and president biden has yet to make it known his preferences. >> well, it is, it is more important than perhaps other jackson hole speeches simply because of the timing. this is one of the last few very, very public events that will help form the consensus in the white house and in

washington over powell my own sense of it is that it's a very high probability he will be reappointed and i would support that tremendously i think he's done an excellent job, particularly last, not last march, but a year ago march, march 2020, march and early april when the fed moved so quickly to respond to the development of the covid situation. so, i think there's probably greater than 50% chance that he is going to be reappointed >> we'll see if you're right dennis, thank you for lending your expertise this morning. dennis lockhart. >> thank you, seema. >> catch the lineup of fed members speaking first on cnbc throughout the day including current fed president raphael bostic patrick harker .

tropical storm ida threatening the coast and it could be a major hurricane before it makes landfall as to the market implications, oil has been on the move it's up another percent this morning and let's get to nbc meteorologist bill karins with the latest bill >> good morning, seema this is as about as serious as it gets for the northern gulf coast and unbelievable we're targeting louisiana, again last year they were hit by four, kind of five storms in one season this time we're not targeting lake charles, this could be a close one for new orleans. pretty weak storm and it has to travel over the very warm waters over the gulf of mexico and it looks ideal for strengthening conditions we may get rapid intensification over the next 60 hours

and this storm will be intensifying right up until landfall the hurricane center has a category 2 with 1 100-mile-per-hour winds come sunday at 1:00 a.m. and then landfall sunday late afternoon or during the evening as a category 3 with 1 115-mile-per-hour winds. if this thing can get its act together fast today, it's not out of the question, could be a category 4 at landfall or down to maybe a category 2 if we're lucky enough and it doesn't get its act together the hurricane center is saying category 3 near morgan city, louisiana. that puts new orleans on the dirty side of the storm which is the stronger winds and heavier rain and storm surge, too. then the storm as we go throughout the day on monday would kind of slowly weaken and be a big, huge rain storm. how certain are we where this storm is going this far out an excellent agreement and almost all of our computer models have landfall south of new orleans down in the central louisiana coast. could be possibly to the right or left of it and excellent

agreement this far out hurricane watches that are up extending from the mississippi/alabama border and that area of red is the biggest issue. the storm surge of 7 to 11 feet possible there and that would include the areas just to the east of lake paunch tr paunchtrain and that would be a lot of water and the rainfall on top of the is. the area of bright red down by new orleans widespread 6 to 18 inches and isolated rainfall totals of 20 inches possible this is about as serious as it gets, seema. today is evacuation day for those oil platforms and everyone in southeast louisiana needs to get all the hurricane preps done now because evacuation orders are probably coming soon >> bill karins, thanks back to the developing situation in afghanistan following the suicide bomber attacks. for more analysis on what the fall out could be from this attack and impact the pace of evacuations for both afghan people and u.s. military operations, we are joined by

fred kempe fred, good morning president biden receiving heated criticism from both democrats and republicans following his speech last night. i'm curious your reaction to the president's speech >> well, that was yesterday, yesterday was the worst day in president biden's presidency this was the worst week in his presidency he's lost more people in one day than we've lost in afghanistan, military people, i mean we lost in afghanistan in 18 months. so he has to stay on track and get the evacuations working effectively and for it to continue to go but the reality has sunk in that people are right that afghanistan is going to, again, become a haven for terrorism. that the taliban either willfully or it could not secure the perimeter of the airport or it chose not to secure the perimeter of the airport but either way, this is the new reality.

and this will also encourage ji jihadists and terrorists around the world. for them this is god has spoken and god is good and we now had a big victory. our biggest victory in decades and it's time to build again a little bit like if al qaeda reconstitutes itself we're back to square one. >> we're relying on taliban for help in evacuating americans, that is a hard concept to swallow. your thoughts on whether americans should be trusting the taliban with this effort >> i've spoken to pakistani officials about this high level on the government side also on the intelligence side and they are convinced that this is a different taliban. that this taliban will abide more by the constitution and look more after human rights of women. they certainly want to get

credibility and for your viewers, cnbc viewers, we have $9 billion in currency reserves they want to get access to they'd love to get access to 400 million dollars of driving rights the real question is can you change the spots on the leopard? i think we're seeing the leadership wanting to do, the leadership talking about that, but on the other hand the whole nature of this organization is to align itself with al qaeda and never admitted that al qaeda was a terrorist organization or even that it was involved in 9/11 so, i think it is not a totally coherent and cohesive organization i think you're going to see afghanistan as ungoverned territory, again as it has been throughout centuries and was under the taliban the last time the taliban ruled. >> taliban controlling afghanistan. they have some level of influence in pakistan whether the prime minister there wants to admit it or not

where does that leave a country like india, hindu state that is already the victim of terrorism in the past? >> i've also talked to our partners in india in the past week they're desispiritdispirited. what does this tell you about your strategic partner with the united states once you see afghanistan falling to the taliban. the taliban is in alliance with your, india's enemy, pakistan. though i must say i do believe that two countries come to pieces at some point but for right now india has to look at the united states and say what really does this alliance bring us? what does this partnership bring us at least in afghanistan so, they will have to decide do we back the northern alliance, this is the alliance that is still trying to under the sun of the great legendary commander and do we work in intelligence

against the taliban? it's also a decision we have to make do we work with the taliban which we're doing now and trust them and work with them or do we just say, no, that's a nonstarter we have to work against. >> we have to leave it there thank you, fred kempe. that does it for us on "worldwide exchange.d chasin memories. hill introducing xfinity rewards. our very own way of thanking you just for being with us. enjoy rewards like movie night specials. xfinity mobile benefits. ...and exclusive experiences, like the chance to win tickets to see watch what happens live.

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good morning stock futures slightly higher as we await fed powell's speech new this morning a uk study found that the risk of rare but deadly clouting issue deadly clotting issues is much higher from contracting covid than getting the vaccine. a major concession from apple regarding its app stores it comes as ceo tim cook gets a

major pay day. friday august 22nd, 2021 "squawk box" begins right now. good morning, welcome to "squawk box" here on cnbc. becky and andrew are off today it is friday, tgif >> it is not the greatest friday. kind of a tough friday >> it's a big friday let's look at u.s. equity futures at this hour as, of course, investors are awaiting jerome powell's speech at jackson hole we're looking at gains for the week s&p 500 looking to be up by 15 dow looking at 102 and nasdaq up by 54. a good week for the nasdaq treasury yields in